IrishSkyBlue
Facebook User
So what would happen if sisu wins?
Court Case Thread! June 2018 (1 Viewer)
- Thread starter wince
- Start date
ccfcway
Well-Known Member
IrishSkyBlue
Facebook User
a 100 page thread with the same 5 people arguing about it
lol too many paragraphs in this thread i just wanna know the simple outcomes of it all, if sisu win whats happens if council and wasps win what happens. Knowing the basic outcomes do me just fine lol.
Otis
Well-Known Member
2 of which are individuals with multiple usernames.a 100 page thread with the same 5 people arguing about it
The 5th one is a Sunderland fan trying to ruffle feathers.
chiefdave
Well-Known Member
That would be down to the judge as there's not a whole lot of similar cases for him to use as a comparison. It could be anything from a slap on the wrist for the council to the whole deal being unwound and done again in the correct manner. Two extremes that are unlikely.
More likely is that Wasps will have to make a further payment to reach whatever is decided to be a 'fair' price.
Then you move on to the next court case which would be civil proceedings against the council by SISU for damages. They've sown the seed for this saying the councils actions mean they now have to build a new stadium so you can see SISU going big and trying to get a ruling that gives them enough to buy the land and build a stadium. In the unlikely event that happened we'd better hope the judge is wise enough to put something in place to ensure that is what it is actually used for and they don't run off with the money.
The most recent court hearing seems to indicate SISU would take 50% of ACL as compensation and draw a line under the whole thing. Seems that this has already been discussed at mediation. One thing is for sure, should they happen they won't be taking on half the debt. Suspect Wasps would have to pay half of the bond off as they had less security.
Thete seems to be a belief that if Wasps folded which they won’t, that sisu could match in and takeover the Ricoh
As I understand things it’ll then go to full review, this hearing is sisu asking for a full review or is it ?
chiefdave
Well-Known Member
Correct but the winner at this point probably won't mean too much as the other side will just appeal. Eventually, potentially years yet, we'll get to the end of the whole process and someone has to win.
IrishSkyBlue
Facebook User
so lets say after ti all sisu get 50% of acl its popping into my head this their ticket try sell us on and get a profit from their 50% maybe?
IrishSkyBlue
Facebook User
They way i look at it is sisu have no assists to sell the club, they get 50% of acl and wasps struggle financially then it starts turn things around for prospective very wealth buyers.
as a buyer you then have option buy the club and buy out wasps for the stadium or maybe even buy both clubs and the stadium maybe this what sisu is hoping just thinking out loud.
as a buyer you then have option buy the club and buy out wasps for the stadium or maybe even buy both clubs and the stadium maybe this what sisu is hoping just thinking out loud.
HuckerbyDublinWhelan
Well-Known Member
Not necessarily - but what it does mean is that the Ricoh is back in play and CCFC become far more attractive for a takeover
oldskyblue58
CCFC Finance Director
or....... they take their compensation that is paid in cash repay their investors at least in part. Then as part of the deal they take on the long lease of the whole stadium effectively as a payment in kind (so no cash/loan/cost involved, but the investors are effectively repaid by the asset value in their fund) through a new company in the role of ACL. They then sub lease it Otium at a long term commercial rent, allowing CCFC access to the turnover but also have an on going income stream for their investors. How much is a commercial rent on an asset of at least £47m ? even say 1% return nets them £470k per annum with no costs against it in this scenario.
In which case selling CCFC isn't necessarily a priority because of the control of finances and CCFC being self sufficient and CCFC never actually own the stadium.
There is a big assumption being made that they will cut and run........... it might not be the case if the return is high enough. Even if they do decide to go they could sell the stadium and the club separately to different buyers and probably maximise their return better. People have got to stop thinking that SISU are doing any of this primarily for CCFC, the club is several places down the list of priorities
In which case selling CCFC isn't necessarily a priority because of the control of finances and CCFC being self sufficient and CCFC never actually own the stadium.
There is a big assumption being made that they will cut and run........... it might not be the case if the return is high enough. Even if they do decide to go they could sell the stadium and the club separately to different buyers and probably maximise their return better. People have got to stop thinking that SISU are doing any of this primarily for CCFC, the club is several places down the list of priorities
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Captain Dart
Well-Known Member
I don't care if Wasps go down the tubes, as long as they do not cost Coventry any money. I don't really give a s**t about any Rugby club.
I do care if SISU screw CCC, that costs me and many others on here as Council Tax payers.
GaryJones
Well-Known Member
Attendances might be higher but half the tickets are given away!
Besides I thought Pantomimes were reserved for Christmas time but Wasps have one every other week at The Ricoh!
Come on everyone in the Stadium cheer "Wasps Wasps Wasps"! Fucking Pantomime! No atmosphere whatsoever.
skybluetony176
Well-Known Member
That’s the worry isn’t it. Sisu losing might be the only way we can get rid of them. Wasps going bump might not even qualify as a consolation prize in the end. The club is between a rock and a hard place on this. There’s a misgiving that Wasps going bump because SISU win JR2 will be a dream for CCFC, be careful what you wish for as it might just prove to be a continuation of the nightmare.
Wasps attendance might be higher but when you compare their last season at high Wycombe the total attendance was 153k last season at the rioch was 196k yes that was an increase but it was down on the year before. I won’t be surprised if it was less next season. They are in trouble. They Already missed one bond payment deadline and got caught trying to cook the books.
oldskyblue58
CCFC Finance Director
Not going to go into the arguments again as to why attendance figures are far more important to CCFC than Wasps
League attendances 2017/18
CCFC (23 games) = 207638 (including 14k free tickets on community day) (1% drop)
Wasps ( 11 games) = 194096 (17% drop on previous year) not the biggest drop but very nearly
League attendances 2017/18
CCFC (23 games) = 207638 (including 14k free tickets on community day) (1% drop)
Wasps ( 11 games) = 194096 (17% drop on previous year) not the biggest drop but very nearly
COVKIDSNEVERQUIT
Well-Known Member
I'm going to bury my head in the sand and think to myself, it's ok everything will be just fine.
But what IF.
oldskyblue58
CCFC Finance Director
The capacity at Wycombe is 9617 for total league attendances to be the figure of 153k must include home games at other grounds ?
when did they miss paying the bond interest?
They missed the filing deadline at Companies House and the presentation of the accounts to bondholders deadline (breaking a covenant in the bond) none of which is a payment deadline
However more important things to do than this ....... like get the beer, cook the pizza and settle down for the match
Come on England !!
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thekidfromstrettoncamp
Well-Known Member
If as I learned as a child all those years ago is a big word . I cannot see them winning my hope is that this time they look at the way the club is now being run by Robins players and staff and maybe just maybe see sense and sit down and try and get some sort of a foothold in the Stadium instead of carrying on the way they are. It would make far more sense for both Wasps and Sisu to go forward together because working together 2 big teams in 1 ground is the way to go .We will be a big team again soon.
D
Deleted member 5849
Guest
What happens? Well, we be seen an unreasonable ren't makes the club unsustainable, so it wouldn't be as bad as before this debacle started.
We're SISU to flog the club but not the ground, the way forward opens for the club to buy the ground, build their own, or 're start a partnership with CRFC. All will not happen as it stands. Furthermore Wasps must fail to discourage other sporting clubs in trying similar.
Therefore the (unlikely) event if Wasps losing this JR is preferable to the alternative.
It's about time we got our identity back.
Shame it won't happen.
We're SISU to flog the club but not the ground, the way forward opens for the club to buy the ground, build their own, or 're start a partnership with CRFC. All will not happen as it stands. Furthermore Wasps must fail to discourage other sporting clubs in trying similar.
Therefore the (unlikely) event if Wasps losing this JR is preferable to the alternative.
It's about time we got our identity back.
Shame it won't happen.
stevefloyd
Well-Known Member
Terry Gibson's perm
Well-Known Member
What was the result?
oldskyblue58
CCFC Finance Director
I am just guessing but with the summer recess coming for the courts I doubt we will hear anything before September even October
Colin Steins Smile
Well-Known Member
As expected - the legal system works [slowly] for the judiciary, so they can maximise fees..............or am I being unnecessarily cynical???
duffer
Well-Known Member
When it comes to SISU/ACL/CCC etc. I don't think it's possible to be "unnecessarily cynical"!
oucho
Well-Known Member
If that's right, that's ridiculous. How hard can it be to summarise a verdict for the various parties? No wonder this has been dragging on for 5 years - total court time has probably been less then 10 days. I know that things take a long time in court but this is just getting silly.
When it comes to SISU/ACL/CCC etc. I don't think it's possible to be "unnecessarily cynical"!
Also when it comes to the who saga, i don't think it's possible to definitively say what "the result" is, as Terry Gibson's Perm asks, it's like the never-ending story.
fernandopartridge
Well-Known Member
You're a Tory voter and an advocate of austerity aren't you? Maybe you should read the Secret Barrister's book, he lays bare the impact that the cuts have had on the courts system that has led to such delays in justice being served if it ever is.
oucho
Well-Known Member
What's my voting intention got to do with anything (and I've voted for all the main parties in the past, actually). You seemed to imply earlier that someone who is found not guilty shouldn't be treated as innocent, what does the secret barrister have to say about that?
Edit - I also dislike the term "Tory voter" as if that's an obvious term of abuse, as if I was some kind of vile sub-species deserving of nothing but scorn and contempt. Would it have applied during phases when I voted Lib Dem and Labour, or only when I voted blue? Either way, there are another 13.6 million or so out there if the 2017 election result is to be used a point of reference. You also seem to imply that evil/idiotic people are ruining the system by starving it of money; fact is, the money isn't there to be spent - we're still in a fiscal deficit ever after 8 years of reducing spending. For all the worthy funding causes in the world, you can't spend what you don't have. Try taking the personal out of it - for once. As for the book, my girlfriend reads it and has at length described the book's statements - I've just got fed up of being told by Tory-bashers that things are bad and just ignored it now.
You could also mention that the system is under stain due to entirely spurious legal cases by the likes of SISU trying to use the threat of legal action to advance their business interests.
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italiahorse
Well-Known Member
I recommend they do an 8 hour day like most people as an improvement.
fernandopartridge
Well-Known Member
I didn't imply that at all. I said that he hadn't been 'proven' innocent. He is presumed innocent not proven.
Is a fiscal deficit not a price worth paying for a functioning justice system?
Pete in Portugal
Well-Known Member
I agree. The administration of Justice always comes to a halt in the summer, to allow their Lordships and Ladies their customary time to go huntin' shootin' and fishin'. It's a disgrace!!!
tisza
Well-Known Member
same a lot of places. currently in year 4 of a case in Hungary. We've get 2 hour hearing every 3 months.
Back in court on Wednesday then court closes for about 6/7 weeks so we'll get next installment around October and begin another 3 yr cycle.
Really simple case being overcomplicated by their expensive lawyers who have probably received more in fees than they owed us.